ECM Exchange » egypt http://ecmexchange.com IFR\'s coverage of ECM and equity linked markets Tue, 25 May 2010 11:38:59 +0000 http://wordpress.org/?v=2.8.4 en hourly 1 Dubai selling begins – EFG-Hermes first http://ecmexchange.com/blog/2009/12/08/dubai-selling-begins-efg-hermes-first/ http://ecmexchange.com/blog/2009/12/08/dubai-selling-begins-efg-hermes-first/#comments Tue, 08 Dec 2009 17:38:41 +0000 owenwild http://ecmexchange.com/?p=244 Citigroup is currently in the market seeking to place up to 5% of EFG-Hermes. The sale is on behalf of Dubai Group, which had a 25% stake in the Egyptian bank.

The book was covered by 5.15pm having been offered at E£25-£26 against a closing price of E£28.03.

Selling was expected but not in this size. The sale will raise approximately US$100m  or 0.17% of Dubai World’s US$60bn debt.

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